Approval to hold a stake in a financial sector company of more than 20% No. 2 of 2024
Financial Sector (Shareholdings) Act 1998
To: Everest Group, Ltd. (Bermuda) ID# 98-0365432 (the applicant) Since:
- On 10 October 2023, the applicant applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in Everest International Reinsurance, Ltd. ARBN 672 987 334 (the company); and
B. I am satisfied it is in the national interest for the applicant to hold a 100% stake in the company,
I, Sean Carmody, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, approve the applicant to hold a 100% stake in the company.
This approval commences on the day, if any, the company is authorised under subsection 12(2) of the Insurance Act 1973 and remains in force indefinitely.
Date: 10 May 2024
Sean Carmody Executive Director
Australian Prudential Regulation Authority
Interpretation
Act means the Financial Sector (Shareholdings) Act 1998.
financial sector company has the meaning given in section 3 of the Act.
stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.
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